Mutual Funds Take To Selling

Domestic mutual funds (MFs) were seen selling equities on 21 March 2007. MFs offloaded shares worth Rs 56.33 crore compared with Tuesday's (20 March 2007) purchases of Rs 140.15 crore. Last month, out of 19 trading sessions, MFs were net sellers of equities for eight days, and net buyers for 11 days in February 2007. MFs made gross sales worth Rs 453.94 crore, their gross purchases aggregating Rs 397.61 crore on Wednesday. The 30-share BSE Sensex 239.94 points (1.89%), to settle at 12,945.88, on that day. MFs net inflow from April 2006 - March 2007, up to 21 March 2007, stands at Rs 9545.91 crore, while they purchased shares worth Rs 14302.20 crore during April 2005 - March 2006.